South Africa c bank deputy gov retires

SOUTH AFRICA - The Reserve Bank of South Africa confirmed on Wednesday that its senior deputy governor, James Cross, would be retiring for health reasons at the end of December, leaving only one deputy governor at the central bank.

Although widely anticipated by domestic markets, the news knocked the volatile rand to fresh lows against major currencies, as traders fretted about uncertainty over who would succeed Cross, who is widely respected at home and abroad.

A central bank spokesperson said